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Cambridge IGCSE Economics practice

Paper 2 structured question: Opportunity cost

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Opportunity cost

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Paper 2Structured Questions1 marks

A student has saved $500 and is considering either buying a new laptop or going on a vacation.

Description

Opportunity Cost Scenario

The student must decide between purchasing a laptop for school or using the money for a vacation. If the student chooses the laptop, they will miss out on the vacation experience.

  1. a

    State the opportunity cost of buying the laptop.

    Aim for approximately 1 distinct marking point.

    [1]

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Paper 2 structured question: Opportunity cost

Paper 2Structured Questions3 marks

Description

Investment Decision

The company must choose between investing in machinery that will improve production efficiency or spending the money on marketing to increase sales. Each option has its benefits and costs.

  1. a

    Explain the opportunity cost of investing in new machinery.

    Aim for approximately 3 distinct marking points.

    [3]